Danimer Scientific (NYSE:DNMR) Shares Scheduled to Reverse Split on Wednesday, November 13th

Danimer Scientific, Inc. (NYSE:DNMR) shares are scheduled to reverse split on Wednesday, November 13th. The 1-40 reverse split was announced on Friday, November 1st. The number of shares owned by shareholders will be adjusted after the market closes on Tuesday, November 12th.

Danimer Scientific Price Performance

NYSE DNMR traded up $0.03 on Tuesday, reaching $0.35. 678,874 shares of the stock traded hands, compared to its average volume of 866,683. The firm’s fifty day simple moving average is $0.38 and its 200 day simple moving average is $0.51. The company has a market cap of $41.67 million, a price-to-earnings ratio of -0.28 and a beta of 1.63. Danimer Scientific has a 12 month low of $0.29 and a 12 month high of $1.84. The company has a quick ratio of 3.15, a current ratio of 4.52 and a debt-to-equity ratio of 1.65.

Danimer Scientific (NYSE:DNMR) last released its earnings results on Thursday, August 8th. The company reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.06. Danimer Scientific had a negative net margin of 325.87% and a negative return on equity of 48.01%. The business had revenue of $7.63 million for the quarter, compared to the consensus estimate of $8.40 million. As a group, research analysts predict that Danimer Scientific will post -0.81 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently commented on the company. Piper Sandler decreased their target price on Danimer Scientific from $1.25 to $1.00 and set a “neutral” rating for the company in a research report on Wednesday, August 21st. TD Cowen lowered Danimer Scientific from a “buy” rating to a “hold” rating and cut their price objective for the stock from $2.00 to $1.00 in a report on Tuesday, August 13th.

Institutional Investors Weigh In On Danimer Scientific

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Armistice Capital LLC boosted its stake in Danimer Scientific by 10.8% during the second quarter. Armistice Capital LLC now owns 10,424,000 shares of the company’s stock worth $6,288,000 after buying an additional 1,014,000 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Danimer Scientific by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 5,070,069 shares of the company’s stock valued at $5,526,000 after acquiring an additional 49,913 shares in the last quarter. Capital Investment Advisors LLC increased its stake in Danimer Scientific by 4.9% in the third quarter. Capital Investment Advisors LLC now owns 630,329 shares of the company’s stock valued at $286,000 after acquiring an additional 29,200 shares during the period. Diversified Trust Co raised its position in Danimer Scientific by 53.1% in the third quarter. Diversified Trust Co now owns 436,200 shares of the company’s stock worth $198,000 after purchasing an additional 151,200 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Danimer Scientific during the second quarter worth about $62,000. Institutional investors and hedge funds own 33.84% of the company’s stock.

About Danimer Scientific

Danimer Scientific, Inc, a performance polymer company, provides bioplastic replacements for traditional petroleum-based plastics in the United States, Germany, Poland, Belgium, Austria, and internationally. It produces polyhydroxyalkanoate, a biodegradable plastic feedstock alternative under the Nodax brand name for applications in films, straws, cutlery, food containers, and others; polylactic acid-based resins for coating disposable paper cups; and other biopolymers.